6 easy step to start your business with no money, and start making money tomorrow
Many people dream of starting their own business or being self-employed, and for good reason. In an uncertain economy, it’s more important than ever to have multiple sources of income. Going into business for yourself is a great way to achieve that goal.
Follow those 6 steps and start making money tomorrow.
1. Make a list of what you like and a list of what you are good at.
If you have trouble recognizing what your strengths are and what fields interest you, talk to the people who know you best. Oftentimes, friends and family can see our talents more clearly than we ourselves can because they observe us from the outside. Asking for their opinions may help simplify the process of brainstorming potential businesses, as they may point out an aptitude of yours that could be useful in a future venture.
If it is still not quite clear, take those 2 lists and start making associations between things you are passionate about and good at. Once you have that figured out, your niche or area of expertise will become evident. If you have more than one passion or skill, don’t worry – just continue exploring all the options until something clicks into place for you. Over time, you’ll find that some subjects come to you more naturally than others and your focus will begin to emerge.
If on the other hand you don’t seem to have expertise in what you love or have competency in something, you are not interested about, tend towards the passion. You can learn everything if you are passionate about it. If you still don’t know, pay attention to what bring you joy or what you tend to watch or pay attention around you or on social media. It can be a good indication. It may also not be an overwhelming passion but something that you like, which is fine, those interest have a higher chance to stick then moment passion.do not know, ask your friends around you. It is easier to see in other then in ourselves.
If you could match the two congratulations. Having your own business is a journey and it can be quite a challenge. It is always easier when you are doing something that you are passionate about and good at, at the same time. Shy away from the “but this field makes a lot of money” at least for now.
2. Make a list of what you could do in this area of expertise for you business
Find in 3 key activities you could do in this domain. In general rule, you could have your own franchise, your own store, your online store, your online services, your consultant agency, your reselling business, your YouTube channel, and your blog, etc.
We are all aware that starting a franchise would require a lot in set up cost. Try to look at other ways to market your expertise, gain your following while making money. For example, a YouTube channel, a blog, a reselling shop, and consulting business have next to zero set up cost and can have a major impact in your success once you launch your big vision in the future, and help you make quite a bit of money along the way.
3. Create a 5-year plan not a business plan.
Business plans are good when you know how to make them or when you want to apply for external funding. Otherwise, they do take a lot of time to make. For the majority of us a 5-year plan will be sufficient. This will comprise of your end goal, a breakdown of the steps required to achieve it and the weekly tasks that will lead you there. A lot of successful entrepreneurs say:
“Most people overestimate what they can do in 1 year and underestimate what they can do in 5 years.”
5 year is not long time. Success takes time and social medias give the impression that it is quick, and it is not. Patience and consistency are what you have to focus on when designing you 5 years plan. The hardest part is to keep the motivation, and consistency through the first year. Once the result is there, it is easier to keep going.
4. Keep your motivation and momentum throughout your journey
This is the hardest step of all. Starting your own business is definitely hard mentally. Believe it or not, we all have a lot of fears and lack of confidence. With no one to give us a push it is hard to do what we love the most, without questioning ourselves on every 5 minutes on if it is worth it and if we are taking the right steps. There are few tricks to keep going and you need to change the tricks once in a while to make sure it works.
- Make a to do list with your goal on top (why you are doing this, the strongest the goal the strongest the motivation)
- Watch a motivational video before starting (Check Out: Mel Robbins, Tony Robins, ET the Hip Hop preacher (Eric Thomas), Gary Vee)
- Listen to upbeat, happy, party song to get you in the mood. We do that naturally, but we often forget about it.
- Surround yourself with people that are doing the same as you. Your friends might not be starting they own business. If they are, hang out with them, share your weekly goals, plan some working sessions with them, encourage each other. Your family might or might not be the best support. Bear in mind that your family loves you and do not want to see you suffer in anyway. The first 2 years of starting your own business can really look like unnecessary pressure and suffering for your loved ones. Just bare that in mind when they talk to you about your new project. Social media is a good platform for support in the right groups. Find entrepreneurship groups or communities build around freelancing.
- Accountability partner. An accountability partner can be anyone you speak to on a regular basis that you can not afford to disappoint or will feel extremely bad disappointing. This consist only of you telling them what your goals are week by week or month by month for your project. They are there to remind you your goals and make sure you are on the right track.
- Think about what impact achieving you goal will have for you and the ones around you. What will be the impact on you, your family, your spouse, your children your siblings, your parents, your friends if you succeed? Will you have more time for them? Will the financial pressure be off, will you be able to send them to college without them having to work? What will be the benefit? Make a list. It is really hard to quit while reading that list, I am telling you.
This is a short list of what you could do to stay motivated. There is a lot more ways to do so. I am repeating but staying motivated is crucial and if you are starting from scratch. No one will be looking at what you are doing, and it is normal and ok. You have to do it for you first of all, and push through it is worth it. It is normal to see no substantial growth for 6 to 12 months.
5. Study your business and related fields
No matter what you chose to start with, if you are starting a blog, study blogging, an Instagram account, study Instagram algorithm and SEO. Unfortunatly, even if you have studied marketing or SEO, you might not know everything about your subject of interest and marketing and social media do evolve every day. If you want to fast track your success, take courses, watch YouTube videos, and constantly learn.
The biggest mistake you can make is to assume you know everything. It is not possible. We all learn along the way even with the 4th start up. There is definitely something you do not know and if you want to grow fast and make money the key is to study. It is not for marks; results show in your wallet. Why not?
Try SkillShare and TedTalk.
6. Start Making Money
The fastest way to make money is to sell item. People will by what they need even if they can’t afford it no matter what it is or how much it cost. If you need money now and have no start up cash, start a reselling business. You can start on Facebook marketplace, Amazon, eBay, Esty, anywhere, find products that you which to sell, advertise them, sell them, and buy the product you need to send only when it is paid off. This will allow you to start earning money without worrying about carrying cost. Please be aware that on some platforms, payments take time to clear in your account and make sure that you deliver the goods on time to the client. You might have because of the time frame to outlay money sometime, which is why starting with a reselling platform is advantageous as you have customer protection on, and you are sure that the money will come through and the person won’t cancel in the middle of the transaction.
A YouTube channel and a blog will take you about 6 months to a year to start getting traffic if you have been working on your SEO, insights, algorithm, and consistency. In opposition to a reselling business, you will have to take time to learn to be able to grow and see progress within that time frame on those platforms. If you have a degree in marketing, this will help you a lot, if not, YouTube is a really great resource to start, what different Youtubers to have a more complete idea of what to do, but you might have to start investing in your education eventually to see further growth.
Conclusion
Once your idea is made, you know what you want to do and how you want to start. Read the below articles to find out more on how to start your own blog, YouTube channel, Social Media account etc. It is a truly amazing journey that you are staring. We wish you the best of luck and have fun making money for yourself enjoying your dream.
